Adda247, one of India’s leading edtech platforms backed by Google, has expanded its horizons by acquiring PrepInst, a prominent placement preparation platform targeted at engineering students. This strategic acquisition, which aligns with Adda247’s goal to fortify its foothold in the tech and digital skilling domains, marks what the company describes as its fourth major buyout. The financial terms surrounding this deal remain undisclosed.
This latest move signifies Adda247’s pivot from primarily focusing on government job preparation to providing comprehensive job-focused education. With the tech sector being one of the largest employers in India and the demand for skilled professionals rising, the acquisition of PrepInst adds significant value to its existing portfolio.
Founded in 2019, PrepInst has rapidly gained traction helping engineering students ace assessments and secure lucrative positions as data scientists, software engineers, and full-stack developers. The platform boasts a diverse range of programs focusing on contemporary technological fields including artificial intelligence (AI), machine learning (ML), cloud computing, and data analytics.
Bimaljeet Singh Bhasin, CEO of Adda247's Skilling and Higher Education Business, elaborated on the synergies between the two companies, stating, “PrepInst is one of the most preferred platforms for aspirants preparing for jobs in services or product-driven technology companies. This collaboration opens up new pathways for us to launch industry-engaged skilling initiatives across B2C and help organizations build high-quality talent.” Over 120,000 professionals have reportedly benefited from PrepInst’s resources, which positions the platform at the forefront of tech job preparatory services.
Atulya Kaushik, co-founder of PrepInst, expressed excitement about joining forces with Adda247, highlighting the synergy between the two platforms. “Adda247’s user base includes many engineering students and freshers, which provides us with the ideal backdrop to offer tech and digital skilling programs to more than 1.2 million paid users,” said Kaushik. “We are confident we can leverage Adda247’s broad reach, mobile-first technology, and emphasis on outcome-focused learning to significantly expand our user base.”
Prior to the acquisition of PrepInst, Adda247 was already making waves with significant acquisitions, including StudyIQ, focused on UPSC preparation, and Veeksha, known for 3D experiential learning modules, as well as Ekagrata, aimed at chartered accountancy test prep. The purposeful consolidation of these diverse educational platforms reveals Adda247’s audacious quest to evolve from being solely a test prep provider to becoming an integrated player in job preparedness.
Since its inception, Adda247 has experienced substantial growth, reporting revenues of ₹243.39 crore for FY 2023-24, marking an impressive 88% increase from the previous year. The platform predominantly serves students across Tier II and III cities, providing access to quality educational resources through live online classes, on-demand video courses, e-books, and mock tests—all available in multiple regional languages.
The gap between the skills of job seekers and the requirements of employers continues to widen, particularly within tech sectors. With the integration of PrepInst, aiming to bridge this gap, Adda247 plans to introduce skilling solutions targeted at high-demand industries such as banking, financial services, insurance, and technology. Bhasin acknowledges the importance of these sectors, stating, “Tech is one of the largest employment sectors, and our focus on this area is pivotal to our growth as we aim to improve job readiness across various skill levels.”
Adda247's foray is not only about addressing skill gaps but also creating avenues for partnerships with enterprises, thereby enhancing the employability quotient of its learners. This commitment to serving both learners and organizations indicates the potential for meaningful employment outcomes arising from this acquisition.
For Adda247, the partnership with PrepInst showcases its commitment to diversifying and strengthening the educational experience it provides. The ability to potentially cater to the learning needs of millions adds another feather to their cap and reinforces their position within the burgeoning Indian edtech ecosystem.
Encouraged by its successful funding rounds, which include $35 million secured from WestBridge Capital and others, along with total funding reaching approximately $63 million to date, Adda247 is well-equipped to execute its ambitious skilling strategy.
With access to over 40 million users per month and significantly growing premium course enrollments, the platform seeks to engage more effectively with students, particularly as it looks to scale its skilling programs to meet market demand.
While government job opportunities appear limited, Adda247’s leadership recognizes the pressing need to assist learners in successfully bridging over to the private sector. Anil Nagar, founder and CEO of Adda247, explained, “While lakhs of learners strive hard to secure government roles, we’re shifting our approach to also encompass private sector opportunities, facilitating pathways for students who aspire to enter these high-growth industries.”
Looking forward, Adda247's continuous efforts to innovate its offerings, conduct market research, and build strategic alliances indicates its proactive stance to not only adapt to the changing educational and market needs but also to thrive within the competitive edtech industry.
Overall, the acquisition of PrepInst by Adda247 isn’t just about adding to its list of services; it's about transforming the employment potential of countless students ready to step onto the global stage of technology and digital services.
